FXStreet (Guatemala) - Geopolitical tensions have notably eased and this was supportive to the USD and US stocks.

EUR/USD was losing again today making a low of 1.3352 in the US while markets were relieved that there had been no further deterioration of the Russian and Ukraine situation over the weekend. The US dollar was supported on stronger US NAHB data and also contributing to a weaker euro had been the earlier downcast view from the Bundesbank with lower estimates for the LTRO.

USD/JPY was trading in the familiar ranges and for the most part bid on a broadly firmer dollar and higher US yields. The pair was unable to extend much further through 102.60 and a gain of circa 30 pips was made up to the US close from the start of the European session. Valeria Bednarik, chief analyst at FXStreet explained that in the 4 hours chart, indicators aim higher around their midlines while price held above moving averages, supporting the shorter-term view.

GBP/USD had been consolidating the opening bids on the week and was range bound within 20 pips. Valeria Bednarik, noted that upcoming on Wednesday, the UK will publish it monthly inflation report and BOE’s Minutes, and said “It won’t be a surprise if the pair continues static on Tuesday”.

The AUD/USD met familiar highs on a relatively non eventful day for the pair, moving only within 15 pips for the most part while we await potential further down talking on the aussie from Stevens, probably mentioning in the RBA minutes that the AUD is overvalued.

Key events:

NAHB home builders sentiment index positive

US 10 year's yields up 4.5 basis points at 2.39%

Standard & Poor’s 500 Index largest weekly gain on July

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Monetary Policy Speculation Continues Next Week With NFPs, RBA and BoE

  2. Forex News

    Japanese Yen: Up or Down? Next Week Holds the Keys

  3. Forex News

    GBP Opening Monthly Range Hinges on BoE Vote Count, Inflation Report

  4. Forex News

    Nonfarm Payrolls coming up: expectations -TDS

  5. Forex News

    EUR/USD regains 1.10, Payrolls eyed

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!